More than two dozen digital health companies raised late-stage mega-rounds in the first quarter of 2022, reflecting a bigger trend in the sector that's seeing investors write larger checks for Series C rounds and beyond, according to data from CB Insights and Rock Health.

Why it matters: Although the first quarter of 2022 might go down in history as the first time in a decade that health tech funding slowed, you'd never know it looking at the size of some of its biggest deals.

By the numbers: 13 digital health companies collected rounds of $150 million or more.

Details: Some common themes among the companies with Q1's largest rounds include:

Between the lines: All this late-stage activity suggests entrepreneurs are shifting their strategy away from near-term public debuts amid tough market conditions, as several executives have told Axios recently. Other factors in the works:

What's next: Tiger Global and D1 Capital Partners are just two big-name firms that plan to pull back on later-stage deals and instead back earlier funding rounds, something several executives tell Axios they expect to influence their business for months to years.